Lokesh Gupta
10-04-2024
#Chainlink price trend suggests a potential significant upswing, evident from a rounding bottom breakout seen on the weekly chart.
Recent market volatility and subsequent pullback cast doubts on the sustainability of the bullish trend.
Notable supply pressure is evident around the $23 mark or the 38.20% Fibonacci level, leading to a rapid decline to $16.
Currently, the altcoin is in the process of retesting a crucial demand zone located near the 23.60% Fibonacci level.
Candles near the demand zone exhibit lower price rejection, suggesting a potential rebound in the near future.
With the $LINK price nearing the 200-day EMA and retesting $16, a potential buying opportunity is presented.
Despite the pullback seen on the weekly chart, $LINK demonstrates substantial upside potential, possibly targeting $35.
However, a decline below the $15 mark or the 200 Day EMA could trigger a retest of $12 or the 50 week EMA.
As per Coingabbar analysis, #Chainlink price prediction 2030 is expected to be $60, while Chainlink #price prediction 2040 suggesting it could potentially exceed $150.
KEY LEVELS :
RESISTANCE LEVEL : $20.00-$23.00
SUPPORT LEVEL : $15.00-$12.00
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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